It is not the same buy the Venezuelan currency that the Brazilian one

Evolution of the Venezuelan Bolivar versus the dollar since October-06 (Source: FT)

Venezuela should be a very rich country, with one of the World largest global oil reserves and the oil price at $135, the government should be able to draw from poverty to a large part of Venezuelans. Do you know that Venezuela is a major supplier of crude to the United States?. It’s excellent geographic position gives a tremendous competitive advantage over other producing countries far beyond the American continent.

Nowadays, Hugo Chávez is trying to buy around the world with their petrodollars and some do so, however his populist politics is damaging all foreign investors. In fact there are no more foreign companies in Venezuela. But this disastrous policy has not benefited its currency, with sharp falls in the price of Venezuelan Bolivar against the U.S. Dollar these years. In the past half year the hike of oil favoured the present apreciation, but its enormous volatility is very bad to attract investment.

Evolution of the Brazilian Real and the Euro versus the U.S. dollar 2006-2008 (Source WSJ)

Instead the government of Lula in Brazil is providing a huge confidence to foreign investors and is reflected in its currency, as the Brazilian real rises even in relation to the Euro.

Finally the Renminbi, continues to climb despite the attempt by the Chinese authorities hitting its exchange rate with the dollar. The market prefer to hold their savings into the currency of the country with higher World foreign exchange reserves.

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China Currency versus Us Dollar 2004-2008